Pebble has announced that it is dropping the price of its flagship smartwatch the Pebble Time along with the Round model. The latest price cut from Pebble is part of the company's marketing strategy to make its devices more appealing and affordable.

Pebble announced that only the Pebble Time and Pebble Time Round models will receive the price cut, which will put their prices at $149.99 and $199.99, respectively. On the other hand, the Pebble Time Steel will still carry its original price tag of $249.99.

Pebble said that the discount is not a promotional offer, but a permanent price cut on its Time smartwatches.

Many market analysts agree that by cutting the cost of its flagship devices, Pebble can essentially compete with other low cost smartwatches and fitness trackers like the Asus ZenWatch 2 and the Fitbit Blaze.

Along with the price cut, Pebble announced that 90 percent of Pebble Time owners have already activated the new Pebble Health feature which the company launched in December 2015. Pebble added that two-thirds of those users use Pebble Health for tracking their sleep and various activity on a weekly basis.

Pebble also announced that it is expanding the retail availability of the Pebble Time Round in the United Kingdom and European region. The company said that those who purchased either a Pebble Time or Pebble Time Round watch after Jan. 21 at the original price can contact Pebble for a price adjustment.

Pebble added that this is only effective until April 1. Customers, who wants to avail of this price adjustment, can send an email to Pebble using the subject line "Price Adjustment." Customers also need to include their order number or email. Each email must contain only one Pebble information.